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20130313
20130321
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KQED (PBS) 4
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Search Results 0 to 3 of about 4 (some duplicates have been removed)
PBS
Mar 18, 2013 2:30pm PDT
anger. the deal includes a heavy tax on bank deposits. savers queued for hours to try to get their money out. now the government says all banks will be closed till thursday as it negotiates the terms of this deal. gavin hewitt starts our coverage. >> hurt, anger, outrage -- that was the mood on the streets of the cypriot capital. in exchange for european bailout, small and large savers will have to pay a one-off tax. >> we are sleeping. we all come in the morning, knowing that we were significant -- >> as a nation, it has taken us 40 years to build our economy to the level it is. with done one day -- within one day, we have shot it down. we are very betrayed. >> they can do it anywhere. live in europe, europe has betrayed us. >> at one stage, the crowd was urged to march towards the presidential palace. many people believed their savings had been guaranteed. what is clear is that the bailout deal negotiated in brussels cannot be implemented here except in the face of furious opposition. will have depositors to pay -- just reducing the amounts savers and depositors will have to pay probab
PBS
Mar 18, 2013 4:00pm PDT
off that tax. i spoke a short time ago with former u.s. treasury secretary tim -- larry suckers -- i spoke a short time ago with former u.s. treasury secretary larry summers. >> it changed the world. sarah gave a was a small place -- sarajevo was a small place. it matters so much because of theexample that may be in process of being set. it has heretofore been assumed that insured deposits of ordinary citizens are as good a credit as exists in these countries. the apparent decision that is not the case, with the endorsement of the european authorities, with the endorsement of the imf, calls that into question. there is little wonder that markets are experiencing a change in the way the world that, and it is change they find unsettling. >> if you are a middle aged retiree in italy or spain today, are you really looking at what is happening in cyprus and thinking, you know what, i might take my savings out of the bank as well? is that the problem? >> certainly a sense of complete confidence that people have that other people have is attenuated by an action of this kind. inis very impor
PBS
Mar 19, 2013 2:30pm PDT
are there, but nobody heeded them. this has long been a tax haven, a country whose banking sector is eight times the size of the economy. cyprus new what was happening in did not take action. now it is a country that is in severe crisis, and it could really set off a chain reaction across the eurozone. that said, it would be unlikely that the eurozone would let them drop out or a bailout that pales in comparison to the rest, but there will have to be a radical the calculus -- the calculation to try to stabilize the entire single currency -- a radical recalculation to try to stabilize the entire single currency. >> thank you. if you thought the euro crisis was over, it may be time to think again. let's go to syria where there is a confused picture over a potentially dangerous development tonight. the syrian government and rebels are accusing each other of launching a deadly chemical attack near the northern city of aleppo. state news claims that 25 people were killed by a rocket containing poisonous gases. the rebels denied the allegation. they are blaming the assad regime. russia supports
Search Results 0 to 3 of about 4 (some duplicates have been removed)